New App Helps Millennials Manage Money

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With the start of 2018 comes New Year’s resolutions and for many people that means financial resolutions. But before you make yours, ask yourself: are you confident in where you stand financially? It seems some millennials aren’t. Millennial finance expert, author of Broke Millennial: Stop Scraping By and Get Your Financial Life Together and founder of BrokeMillennial.com, Erin Lowry, has some helpful tips.

"Turbo comes from the makers of TurboTax recently did a study about the state of millennial's finances and not surprisingly millennials are incredibly overwhelmed when it comes to money. Only 12% of millennials feel very prepared for their financial futures and less than half feel like they have enough money to both pay their bills and save."

So what can they do to help themselves?

"Well the first thing you have to do is know where you stand financially. You can't make any decisions until you have that information. Then you have to have the right tools and that's where Turbo comes in. Turbo is a financial tool that gives you all of the information you need to understand your financial health profile and help you to make smart money decisions."

How did you become a millennial expert?

"Well it started with a blog about five years ago and I started writing about finances and money and then eventually that led to a book. Part of it is me talking about my own experiences and things I have gone through when it came to learning about money and figuring out how to distill that into something that millennials can really understand and relate to as well."

Do you have any other advice for millennials?

"One thing I would say is definitely check out the Turbo app because it provides your verified IRS filed income, your credit score and your debt-to-income ratio. So those are three big pieces that you need to understand about your financial health profile. Also have a budget in place so you know how much money is coming in and how much money is going out every single month."

Check our MyTurbo.com and Turbo is now available to download for free on the Apple App Store.